INC TX-PERSONAL INTEREST
Summary
Amends the Illinois Income Tax Act. Creates a credit in an amount equal to the amount of personal interest paid by an individual taxpayer during the taxable year. Provides that the term "personal interest" means interest paid on personal and consumer loans that is not deductible when calculating the taxpayer's federal adjusted gross income. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
May 2016
Committee Review
Floor Vote
Governor
Introduced May 12, 2016
Last action Jan 10, 2017
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
4
Key actions
0
Committee
1
May 12, 2016
Committee
Referred to Assignments
upper
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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